Greece Industry February 2017

Greece: Industrial production surges in February

April 10, 2017

Industrial production in Greece expanded a working-day adjusted 10.8% in February compared to the same month of last year, which was above January’s revised 7.1% rise (previously reported: +7.2% year-on-year) and marked a multi-year high. The pick-up was driven by booming electricity production and stronger growth in the manufacturing sector. In addition, mining and quarrying rebounded from the previous month’s contraction.

Meanwhile, industrial output expanded 5.9% in February over the previous month in working-day adjusted terms, which contrasted January’s 2.6% decrease. Annual average growth in industrial production rose from January’s 2.8% to 3.9%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.8% in 2017, which is up 0.2 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 1.9%.

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Greece Economic News

The number of unemployed fell by 103 in November from the previous month and by 119,363 compared with November 2016, according to recent data released by the Hellenic Statistical Authority (EL.STAT).
The unemployment rate was unchanged from October’s revised 20.9% (previously reported: 20.8%).

Industrial production expanded a working-day-adjusted 0.8% in November compared to the same month of the previous year, which was slightly above October’s revised 0.7% growth (previously reported: +0.5% year-on-year).

Industrial production expanded a working-day-adjusted 0.5% in October compared to the same month of last year, which was notably below September’s revised 3.2% growth (previously reported: +2.4% year-on-year).